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tv   Today in the Bay  NBC  May 18, 2012 6:00am-7:00am PDT

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we've got coverage right here on nbc bay area you're not going to see anywhere else because we've got scott mcgrew heading up to the coverage here in the studio. scott budman's actually on the facebook campus this morning with what is happening there. and bob redell nearby in menlo park with potential stock purchasers and marla tellez on where all that new facebook money might go. scott mcgrew, though, leads the coverage for us. scott? >> well, good morning to you, laura, just after 6:00. things are going to start to move very quickly now. yesterday afternoon, facebook set a price for the shares that would sell insiders at $38. and we should point out, laura, that's exactly what you predicted. those shares were purchased, that's technically the ipo right there. and then this morning, this young man wearing a shirt and tie at least in this video will ring the nasdaq marketplace's opening bell. really it's an electronic chime and launch the trading day. that's all ceremonial. 7:00 a.m. our time, that's the earliest you can buy shares of facebook. as we look at a live picture of the nasdaq looking east on time
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square welcoming the facebook to the nasdaq. securities and exchange commission does clear the stock to trade under the symbol at fb at 7:00 a.m. our time. and because the nasdaq is an electronic trading system, we do expect that to happen fairly quickly. it takes a while for the market makers to meet each other, nasdaq it happens quickly. scott budman is live right there now. good morning, scott. >> reporter: well, good morning, scott. yeah, and i want to take you back up top to see the scene that's going on as the nasdaq which as you mentioned normally trades in new york has come across the country to facebook, menlo park headquarters. heis is saying a lot about the power of the social network. many, many older, bigger, longer standing companies than facebook trade in new york, but the nasdaq coming out here to let these guys that you're looking down below know, hey, you are where the action is right now. you are where the big money is.
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you are creating that amount of wealth both in silicon valley, in the bay area, on the nasdaq, and throughout the world. facebook's certainly doing that. merely by going public, facebook pulling in sales of some $16 billion worth of stock last night. and that's even before the stock hits the market later this morning. what happens there? well, that's anybody's guess. we'll talk a little bit later with bob redell about whether or not people will actually buy in. but the people you're seeing, lots of them, the majority of them, in fact, facebook employees that not only arrived this morning early for work to be part of this historic bell ringing, but that even spent the night at facebook headquarters. facebook called it a hackathon led by ceo mark zuckerberg that kicked it off by saying we want to focus on the future, not just the ipo, those people, his employees, gave him a standing ovation before kicking off the hackathon. back here at campus, it was a steady stream of people coming in to work early this morning.
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by now, pretty much everybody is here. you imagine they don't want to miss this. the company has been going for eight years, these people work very long hours, they have built this company and as of today they will reap a very big financial reward. again, more than 900 million users on facebook. today the very first day that those users will be able to actually own a piece of the company. scott, i'll send it back to you. >> and scott, we're seeing pictures from our helicopter, as well. i can hear the helicopters above you. this is not going to be the biggest ipo in the bay area history, but there's an excitement here, and i think we're seeing -- i'm not sure who we're seeing there. an excitement that we just didn't see. visa, for instance, was much bigger. it's a san francisco-based company, this is much bigger. >> yeah, you're absolutely right. there is something special when a consumer-oriented company goes public. it's something like facebook that people can understand, they get how it works, use it every
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day. nothing against a big business. big businesses tend to trade better on the exchange than consumer-oriented companies, apple being the big exception. but people love facebook. it's something they feel a kinship to, so hey, i want to own a piece of that company. the only individual company i can think of that sparked this much interest in owning just one share was walt disney and disney went public a long time ago and has been a multibillion dollar company ever since. people just flat out love it and they understand it. there's no mystery. they know how it makes money and they understand that they're part of that and they want to own a little piece of the company if they can. >> scott budman reporting live in menlo park. we'll continue to talk to him all morning, laura? >> it is amazing to see the crowds out there. like a rock star event. now that we've given you a look inside facebook, let's see what some of the outsiders have to say. bob redell live just down the street from campus in menlo park getting reaction there. it's the big buzz. >> reporter: yeah, good morning to you, laura, the outsiders
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being the average joe, people like myself who are not insiders who are not investors in facebook, but who would be investing in the shares on the open market when it ipos later this morning. so we've been asking people out here if you had the money, do you think facebook would be a good investment? >> yeah, why not. >> reporter: well, some people might say in the long-term it's not worth the investment. >> well, facebook's facebook, right? it's making money regardless. so i mean, between that kind of company investing in something like that and it's expecting some kind of return, right? >> reporter: you would do it if you had the money? >> oh, yeah. >> you're confident in it? >> oh, absolutely. >> reporter: why? >> because i see so many people on it and it's just a way you can find your old friends, family, and i enjoy it. >> reporter: of course there are people who don't think it would be a good investment, think it's a flash in the pan, it's not sustainable, could be the next
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myspace. as scott has been mentioning, scott mcgrew trading actually doesn't start until 7:00 this morning. if you're going to look online at 6:30 to see what it's trading at. it's going to be delayed by roughly half an hour. reporting live here just down the street from facebook headquarters here in menlo park, bob redell, "today in the bay." >> thank you very much. and today's ipo will turn about 1,000 facebook employees into brand new millionaires. congratulations. "today in the bay's" marla tellez getting a look at what they can use some of that new-found wealth on. a good position to be in, marla. >> reporter: absolutely. good morning, jon. yeah, today facebook employees can at least add a couple more zeros to their paycheck. some of them have already started to spend that money. what are they buying? the first thing they're buying, no surprise, a new home. agents on the peninsula and in silicon valley say home sales are up and prices have jumped as much as almost 20% with starter homes going for close to $2 million. now, this is compared to 2011
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stats. and an agent tells me even high-end atherton home sales are doing well. he says a $15 million home there just sold after a mere four days on the market. >> they filed announcing that ipo, prices immediately jumped. >> now, luxury car sales are also on the rise. the general manager at putnam lexus in redwood city said facebook employees have been in recently and you know what? they are buying a new ride for that new garage. bottom line, it is very good to be a high-end realtor, retailer, and a realtor for that matter, and even a financial planner right about now. live in menlo park, marla tellez, "today in the bay." >> and we will have continuing coverage of the facebook public offering all morning and all day long. more reports coming up. and for complete coverage, check out our website,, just search, not surprisingly,
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facebook. >> seems to be the keyword today. 6:07. and speaking of complete coverage, christina loren always has that for us in the bay area. she's here now to tell us about the weekend. what's up? >> little cloud coverage this morning. good morning to you. the marine layer getting squished to nothing by high pressure. yesterday's highs, starting in the upper 40s and 50s, it feels crisp out there, refreshing, little bit of patchy fog, ragged patches hugging the coastal mountains. not going to last very long what is out there. the sunshine out in full force and major warming ahead. the upcoming weekend, speaking of that weekend, lots happening. many opportunities for you to meet your "today in the bay" favorites. scott mcgrew will be out in san mateo on saturday. 75 at 4:00 p.m. it all works out like this for today, your hour-by-hour forecast, 70 degrees at noon inland, coming up, i'll let you know where you can meet mike.
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he's got traffic right now. >> you can meet me on facebook. that's for sure. we're talking about that a lot. around the peninsula, a chopper shot over there. you can see all of the activity on facebook's campus, there's a lot going on there. as we take the live shot or maps, a smooth flow of traffic on the freeways. there you go, the congestion right there on the facebook campus in menlo park, but this is just off the dumbarton bridge. the connector willow avenue, a lot of folks take that to and from, between 84 and 101. we'll circle it on the maps and show you that. that is where you'll see a lot of congestion. marla and bob both out there reporting in our team coverage telling me willow is indeed seeing a lot of slowing. you may want to use university. a little to the south. one exit between 101 and highway 84. that should cut you around the congestion. facebook, the campus off the interchange, highway 84 and willow meet over there in menlo park. meanwhile, the south bay shows slowing northbound 101 north of
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680. speeds were down in the 50s, still around 55, but that congestion just starting to build for the south bay, highway 87 holding clearly right now. the east bay where we're seeing a smooth drive to the bay bridge, but we have activity in berkeley. more on that, back to you. >> thank you very much. new this morning, berkeley police at the scene of a crash right now, very violent crash that's killed one person seriously injuring two others. christie smith is live at that scene with all the details. what's the latest you can tell us? >> good morning to you, jon. well, we're getting a clearer picture of how bad this accident was. let's step aside to take a look for yourself. we're also getting an update on the victims after a driver slammed into a tree just beyond the traffic circle here. we're now hearing that first responders, berkeley police tried to pry the doors open, a team of them, but it took firefighters with the jaws of life to try to get everyone out because they were trapped inside. the passenger died at the scene. we have learned that passenger was a woman, the driver a male.
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now listed in critical condition. a child in the car also in critical condition this morning. police telling us that that child is under 10 years old. this happened about 11:15 this morning at california and allston way. the caller reported a sound of a loud crash. berkeley's accident investigation team is trying to figure out why the driver lost control. >> well, when one loses control of a car, there's usually some kind of dynamic involved whether it's a mechanical failure or speed or whether certainly this morning we don't seem to have a weather issue. so we're going to be looking at those indicators to determine what happened here. >> reporter: right now berkeley police are out trying to make contact with the families, let them know what's going on. they also tell me that while several people heard the loud sound of this wreck, so far they don't have any eyewitnesss. they're asking anyone who saw anything, please give them a call.
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reporting live in berkeley, christie smith, "today in the bay." 6:11. the family of a san jose man found a week without food or water want answers now. police found michael sanchez on wednesday in the thick brush off of highway 101 off of san jose where he crashed his truck earlier this week. a week earlier, rather. sanchez' family are very upset that deputies searched the area at the time, but they didn't find him. doctors say injuries indicate it was unlikely he moved around. >> all you have to do is look at his back and he has a classic pressure sores of somebody lying on his back unmoving for that period of time. >> doctors say sanchez' condition is getting better. he opened his eyes, moved his arms and his kidneys that had failed after a lack of food and water for seven days are beginning to recover. >> wow. amazing he is even still alive. wow. good luck to that.
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6:12 right now. still to come on "today in the bay," a lot more on the facebook ipo coming up. hours away from the stock trading. team coverage to go along with all the people out there on the campus. >> exactly. and you know, they're going to ring the bell remotely. this is a live look from time square, new york city, but it's all really going to happen on that stage you saw briefly there. mark zuckerberg expect to speak. we e, as well. [ male announcer ] olympic tennis players bob and mike bryan
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welcome back, everyone. and a good friday morning to you. our chopper flying high over facebook headquarters this morning where we are really seeing the crowds gather there. that's because they're going to ring the opening bell remotely this morning as facebook finally ipo, set at $38, mark zuckerberg expected to speak. we'll have the greatest, latest
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coverage at 6:15 right now. and one of the bay area's most popular events is taking place this weekend. the 101st beta breakers race takes place on sunday. and it's not too late to register if you're feeling the magic. and muni providing special service on the rail lines. 100,000 spectators to and from that course. here's a run down of the fares. adults 18 to 64, $12, seniors 65 and older, children, $10, $8 if you have a muni pass, children under five get on for free. van halen fans, consider yourself lucky. the band just postponed dozens of dates on a summer tour. no real reason so far. every show after june 26th in new orleans just disappeared from the band's website calendar. the good news is, the june third oakland and june 5th san jose shows are still on at least for now. >> can't you just all get along? come on now, go ahead and jump. well, the bay area bridge
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series kicking off at at&t park kicks off tonight, the a's taking on the g-men. they'll be the starting pitchers to get this thing rolling and this game is the bay bridge series, we'll have a golden gate bridge theme. you can check things out right here on nbc bay area coverage starting at 7:00 sharp. and your full forecast coverage right now want to check in with christina loren. live look at alcatraz. >> yeah, looking fantastic this morning. can actually see it through the low clouds trying to form not able to do so, though. and that's because high pressure's moving in so quickly. we're looking really good for this afternoon. let's go ahead and take you to your temperatures right now. all right. we're going to see a nice-looking day. actually i'm going to go ahead and send it over to mike. >> let's take a look out here, you guys, looking at the maps, let's start with your eastbound freeways. this is your tri-valley and a smooth drive heading down through livermore and the dublin interchange. we do have a smooth flow of
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traffic. no incidents, but an earlier disabled vehicle has cleared without a problem. over here, this is a problem just reported in the last few minutes by my friend jason. we have northbound 238 just off of the 580 split and we have your commute direction blocked with one lane, a car is there, unmovable from what chp has just told me. they cannot clear one of those lanes coming off the split and already causing slowdowns coming in through castro valley. expect that to continue to build. we'll track it and the commute traffic flow past the coliseum moving pretty smoothly right now. let's get a live look and see. yeah, things are moving nicely. no major issues. now, the home of the a's. the a's are indeed playing tonight, but not at the coliseum. christina, they're over at at&t park, the bay bridge series is going on. how is the day shaping up? >> yeah, doesn't really matter when you've got giants versus a's tonight at 7:15. it is going to be such a great series. and that series starts right here on nbc bay area. temperatures right now are nice
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and crisp to start you out. we're in the 40s and 50s, 50 degrees in san jose, 34 for gilroy and 45 degrees in santa cruz. headed toward the 60s and 70s. next 48 hours work out like this, high pressure moves in quickly. as it does so, we're going to warm up substantially just from yesterday's highs alone. about five to eight degrees warmer than an additional three to five degrees as we head into your saturday. we will be a little on the warm side inland heading through saturday, and sunday, we get such a treat here in the bay area. the entire west coast is going to get a nice view of the anular solar eclipse. the first since 1994. now here's what we want you to know. it's going to appear as though there's a ring of fire because the diameter of the moon is going to actually appear smaller than that of the sun. now, we don't want you to look at this unless you have special eye equipment. and you can find out about that on our website, the three-day forecast shows you
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the climb continues through sunday. and we'll cool you off tuesday and wednesday of next week, warming right back up toward the week's end. back to you guys. 6:20 right now. talking facebook a lot this morning. it's been fun to talk about the wealth flowing into the bay area in the form of facebook shares. our estimates say 1,000 people will become millionaires, a few billionaires, in fact. scott mcgrew, they're calling them billionaires. >> facebook millionaires and billionaires are fillionares. hewlett-packard will reportedly lay off a staggering 30,000 people. we expect official confirmation of that wednesday when hp announces the quarterly profits. hp is an enormous company, it has employees in nearly every country in the world. so it doesn't mean all of those cuts will come here, but it is awful news even the same. well, we can get a minute here to feel sorry for this guy, one of silicon valley's wonder
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kids. oh, we don't have pictures of him, be uh we can feel sorry for him even worse then. in a matter of hours from now his company spacex is going to launch the first private mission to the international space station. he's got to be wondering this morning, what have i got to do to get you people to stop talking about mark zuckerberg? video outside the nasdaq marketplace in time square, new york city this morning, nasdaq very proud to be the trading center for facebook shares, stealing that from the new york stock exchange. years ago, it seemed as if every tech stock traded on nasdaq, wall street has been able to grab a few, including linkedn. and lots of head wind for face book. we've been talking about the stock market as we continue to see the banks fail in greece. the man who will probably become the prime minister says had e won't do what greece has agreed to do to save itself. he will stop paying money and pay off the debts, as well. that has wall street very
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concerned. meanwhile, i've been monitoring the latest on facebook for you. we've been talking about a 7:00 a.m. trading time, 6:30 is when they ring the nasdaq opening bell, now looking more like 8:00 a.m., nasdaq saying shares will be released at 8:00 a.m. that could change again. but we'll have the latest, jon and laura, from the newsroom as we continue to monitor this. >> there's a lot going on. >> time is 6:22. coming up, even if you can't get on the ipo for facebook, you'll get rich on information because you've got us. that opening bell will ring in a few minutes. everything from menlo park all the way to new york city. we'll have a live look right now. >> chopper flying high over facebook headquarters where thousands are gathered outside. we just understood that cheryl sandberg was on the podium this morning. that's where they're going to ring the opening bell remotely. stay with nbc bay area. we've got the best cov.
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kinda. [ male announcer ] and we think that's the best prize of all. ♪ welcome back, everybody on this facebook friday. mark zuckerberg, the ceo and creator of facebook at the podium. we're hoping to listen in soon to find out what he's saying moments before he rings that remote bell to open up the nasdaq trading. >> yeah, thousands of people out there, most of whom will soon become millionaires. we want to check in with scott mcgrew. pretty exciting out there. >> well, good morning, we are a short time away from the ringing of the nasdaq and we're having the speeches by the various
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officials. you mentioned mark zuckerberg, the other one to talk about is cheryl samberg, an extraordinary woman. she's going to be hard to pick out in the crowd. but if you look at the monitor just to his -- well, they changed the monitor. she was just over his right shoulder. thad be on your screen left wearing white, i believe. anyway, she also went to harvard, a harvard graduate as we see the opening of the nasdaq here getting ever so closer. this is a live picture of time square and we are just a little bit away from the opening of the nasdaq time square not where this is happening, it'll all be happening in menlo park. we were talking about the unique team between cheryl sandberg and mark zuckerberg when we go back to live pictures when we can. there you see it. extraordinary team, both harvard graduates although she was able to graduate and she has been working as chief of staff on the treasury. worked as the vice president to google and she is easily one of
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the most powerful women in silicon valley as we watch mark zuckerberg cheering on the crowd. we're going to toss it back to you here shortly, but we continue to cover it this morning. >> stay with us. >>
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yes, there it is, menlo park. it's going to be a bash out there. mark zuckerberg, why is he smiling? well, his company's going public today. the ipo offering will be happening. and we can hear the music. it's going on out there. listen in, it's thousands at menlo park headquarters. this feels like a rock concert. you and i are sitting here taking this in. >> kind of. it's pretty amazing. there are thousands of people out there, you see cheryl sandberg, mark zuckerberg spoke moments ago. the excitement has been building all night long. we're talking about 1,000 instant millionaires this morning. we're about ten seconds away from the opening bell.
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ringing it remotely this morning. doing the countdown live. let's listen in. [ bell ringing ] >> history being made this morning right here in the silicon valley. we're bringing you live team coverage like no other this morning. you can feel the excitement out there. good morning to you. i'm laura garcia-cannon. >> and i'm jon kelley. i've covered a lot of big-time events, and i can feel this. and i get a little jolt in my body. how about you? >> always, as well. our business and tech reporter scott mcgrew really leading our team coverage of facebook's ipo. >> good morning to you and a big hug from cheryl to mark. the two met at a christmas party at another silicon valley executive's home and history was made. sandberg there in white jacket, mark there in the middle wearing the hoodie, of course, as you see live pictures. close-up of mark.
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just genuine excitement there. that's just terrific. that's an official from the nasdaq there raising his hand, as well. now, facebook is going to bring $14 billion worth of wealth into california. a live picture outside the nasdaq in time square, as well. $14 billion, that's 20% of the income growth in california just occurred right now. jon, you talked about it being a super bowl and, indeed, it is. we're going to have live coverage throughout the day as we wait for the nasdaq trades, those should come we were originally thinking about 7:00, now we're thinking about 8:00, nasdaq omx saying it'll release to traders then. jon? >> thank you very much. we'll be checking back with you to continue to get the insight on this. of course, everybody is talking about facebook, why wouldn't they be? but the question is, how many people will actually be buying shares and planning to do so for this ipo? okay. right now let's check it out with scott budman also been part of our team coverage helping us
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out from menlo park. scott, you're close to all that energy. tell us what's happening now. >> reporter: well, very exciting time, i'll tell you, we've had people coming in all morning long, jon, no employee wanted to miss this. many of them even staying over last night in what facebook dubbed it a hackathon. many more employees coming in all morning long and you saw the crowds, you know, we can show it to you again. so much excitement on the campus. media all over the place. everyone is talking about the wealth creation here and how for the first time even some of the 900 million people on facebook every day are able to actually physically own a piece of this company. the big owners, of course, the mark zuckerbergs, the cheryl m sambergs, they're the ones who have built this company from an idea in a harvard dorm room eight years ago to a social phenomenon it has become today. kicking off and building an
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entire industry and now really lifting the tide of all sorts of technology companies. we've seen social media stocks rise in the past couple of weeks, we've seen internet stocks rise, simply on the promise of what a facebook ipo can do for the industry and the billions of dollars that will change hands later this morning when the stock does actually begin to trade on the nasdaq. jon, let's send it back to you. >> okay. great insight from there. menlo park and yes, an intriguing proposition to find out what's going to happen with that stock number on the ipo and also, a lot of people trying to get in to buy the ipo shares. bob redell live in the shadow of the facebook campus in the menlo park. you've been talking to people possibly wanting to buy this. is there more buzz than actual buyers? >> it's hard to say. you're talking to people like myself who don't have a hand in this game, we're not insiders. we're, you know, not investors in the company, we're just people who if we had the money, could we do it? you'd be doing it on the open
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market,er you're not going to be getting it at $38 a share. and it was kind of the dream question. if you had the money, would you buy into facebook? here's what some people had to say. >> why? >> i don't trust the technology. don't trust where it's -- there's a lot of questions out there still. >> i think it's going to keep growing. i like the whole atmosphere, everything going on over there. >> maybe after i have more savings. no, but i would. if i had like a savings for investing, i would invest a little. >> reporter: if you're curious at what facebook is trading at right now and you're going online to check and you're getting, hey, it's not trading yet because it hasn't started trading yet. it's supposed to start trading within about half an hour, around 7:00 our time. reporting live in menlo park, bob redell, "today in the bay." and stay with nbc bay area for continuing coverage of the facebook public offering throughout the morning for
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complete coverage you can also check out our website,, search facebook. an historic morning. >> pretty amazing. >> yeah, watching this all unfold out here. another thing happening, it's the weekend. >> yeah, for free. >> something for everyone. another icon landmark here in the bay area, of course, the transamerica pyramid. you can vividly see the coastal mountains in the background. we are not socked in with fog, it's a great way to start you out on a friday morning. and temperatures this morning are rather mild. we're in the 40s and 50s. 50 in san jose and 45 degrees down in santa cruz. as we head throughout this afternoon, another bay area stunner only getting warmer as we head into the upcoming weekend. and there's a lot happening here in the bay area over the weekend. we'll be talking about some of those events and the weather that will accommodate your outdoor plans coming up. first for today, sunshine returns all across the bay area, major warming ahead, i'll show you that when i get to my seven-day forecast, but it all works out like this for today,
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78 degrees noon inland, 74 by 4:00 p.m. by the bay, 69 degrees at 4:00. so really comfortable conditions about five to ten degrees warmer than where we ended up yesterday. let's check that drive, we don't want any problems there on a friday morning. mike's here to help you out. >> yeah, let me first of all touch on something. i don't know if you heard. a company called facebook, something's going on over there. let me show you on the map where that's located. that's a concern if you're taking the dumbarton bridge or 101 and connecting to the other. willow avenue is a very popular cut through, one of your shortest routes there, but also takes you right past the main entrance to facebook. a lot of activity. a lot of spectator stopping, a lot of people trying to take pictures. and our news crews are there, in fact, as well as others, distractions. use university as your cut through. that's a little to the south and worth the additional few feet and a little bit of slower traffic through the city streets. keep that in mind, and watch the signals, folks, you may be in a
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rush, but other folks getting to school in the area. let's get out to the other side of the bay and showing a smooth drive except for the castro valley y. the accident still northbound 238 at 14th street. have a car they have to remove in the roadway. the car is not movable until they get a flat bed tow truck, guys. >> some people have to work today, radight? >> it is 6:37 right now. coming up on "today in the bay," more facebook. looks like the crowd dispersing after spending most of the night at the menlo park campus. got to take pictures to remember the moment. we'll talk about what's happening with the stocks and the good vibrations with facebook. >> the bay bridge series this morning, do you think it'll ever become the 101 series? find out where the a's plan to move to san jose. where it all stands this morning. and back to facebook. why not? for the latest news, traffic, and weather, we'll let you know what's happening with that
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stock. come find us. an'r o h,oi, o durng ooi thing, putting the thumbs up.
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6:40 right now. facebook ipo this morning, they rang the bell remotely about ten minutes ago. ceo mark zuckerberg signing it away. and it is official. trading publicly starting about 8:00 this morning, but a lot of excitement on facebook headquarters. we've got team coverage just ahead, 6:40.
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the a's and giants out at at&t park, but after three years of waiting, the side story is the oakland a's no closer to a decision from major league baseball on whether or not they can build a new stadium in san jose. at a meeting thursday, commissioner bud selig said there's no timetable to resolve the dispute with the giants. he also said it's up to the a's owner lou wolfe if he wants to consider other sites. wolfe says he's still focused on san jose. jpmorgan chase's ceo on the hot seat this morning after $2 billion maybe $3 billion blunder. the ceo will testify before the senate banking committee. will hold hearings about the bank's massive trading losses. the first will be next week, the second in june, a third at a later date. expected to testify at the third hearing, we will expect to hear from ceo jamie dimon. well, the time now is 6:41. coming up, 15 minutes of
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uninterrupted news. a complete wrap-up of this morning's big bash out at the facebook ipo. yes, indeed, we will continue to cover that as we wait for trades this morning. looking at the next trade -- the first trade rather probably coming at 8:00 a.m. our time. we'll have the latest. and it's interesting, the clouds thinning out a little bit this morning at facebook headquarters. big excitement about ten minutes ago, but we've got continued coverage, lots of things changing in the silicon valley. 6:42. new unisom natural nights. soothes you to sleep with ingredients like melatonin. it's safe with no side effects, so you wake up... ready to go. [ male announcer ] unisom natural nights.
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welcome back, everyone, taking you live to new york city this morning. look at that. nasdaq welcoming facebook. listed as fb now officially. bell rang in menlo park earlier this morning remotely.
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they're officially going to start trading at about 8:00 this morning. live team coverage continues ahead. new this morning, police trying to figure out exactly what caused a deadly crash in berkeley that killed one person sent two others to the hospital. "today in the bay's" christie smith is at the crash site where the investigation is far from over. >> reporter: good morning, jon. now it's getting much lighter out here, you can see how bad this wreck really was. police say it looked like the driver hit the curb of the traffic circle and then the car went airborne and hit the tree. they think that because the damage to the tree is so high up compared to where the car landed. three people in that car, one a female passenger died here at the scene, the male driver taken to hyland hospital listed in critical condition, and a child also in critical condition in children's hospital oakland this morning. this is allston way and california street. happened just after 1:00 this morning.
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first on scene, berkeley police tried desperately to get them out, but they were trapped. >> all of them were quite a challenge for the officers and berkeley's fire department personnel who responded to get out of the car. took some time to get them out. >> while people reported hearing the crash, so far no one has said they actually saw it. so they do need witnesses to come forward, still not a lot of information about who the victims are, but they do tell me that the car is registered out of southern california and it's a cadillac. reporting live in berkeley, christie smith, "today in the bay." >> 6:46 right now. and the bay bridge series at the ball yard kicking off at at&t park tonight. >> the a's will take on a short trip to take on the giants. and this game in the bay bridge series will have a golden gate bridge theme. you can check it out right here on nbc bay area. our coverage starts at 7:00 p.m.
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>> all bridges lead to that ball game. time to check in with christina loren, and i know you all have your eyes on that one. >> i'll be out at sunday's game, brian wilson day and he's going to be out at that game too. hopefully great video for you on monday. let's take you outside. everybody is getting great weather this weekend starting right off the bat this morning in san jose. 6:47, already clear, already warming now that the sun is out and your temperatures were warm to start. so for this time of year, we're going to end up just about where we average. and then we're going to be above average through the upcoming weekend. something that is a great benefit of that onshore flow we had yesterday. area of low pressure, brought in that cloud cover, well, good air quality as a result. you can go ahead and open up your windows and breathe in that air. pollen levels have dropped since the week's start. high pressure moves in today and it's going to move in quickly for us. that's going to bring about a warming trend by about five to eight degrees. you want to dress in layers today, coo l to start, warm to finish inland, tomorrow, more so
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by an additional three to five degrees. and then sunday, climbing even more. i'll get your seven-day forecast in a minute. 80 degrees in los gatos, 65 in san francisco, and 74 for san rafael. comfortable wine country weather. you will see the temperatures in the mid-80s. really, really nice weather inland. and as we head throughout monday, a little bit warmer and we're going to drop off your temperatures tuesday into wednesday, 78 degrees tuesday, 79 wednesday, then thursday 82 degrees. now, i know mike has an event tomorrow in san jose, walk for autism. you'll be out there at 8:00 a.m., radight? >> county park at the history of san jose. we'll be out there starting at 8:00. come on out, folks, raising funds and raising awareness. very important. we're looking over here also important for your morning commute. we're looking a the the accident which has now cleared from 238 northbound. all lanes are cleared, but still the slowdown started for castro valley and it will continue for the y for another half an hour until things can sort out.
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here's south of 880 down towards 92, and down towards whipple, we build the volume, increases because of an earlier accident. debris reported across all lanes and that will cause some slowing as the crews will clear whatever they need to, maybe some rolling traffic breaks or at least some clatter from union city down into fremont. continuing into the south bay, the rest of the freeways are moving smoothly, your northbound slowing as well as 87, the build starts for the south bay, guys, back to you. >> thanks a lot, mike. we continue our extensive coverage of the social offering and, yeah, we've been all over it on top of facebook's ipo this morning. back to the business and tech team with scott mcgrew. scott budman on that facebook campus. >> bob redell is nearby in menlo park with potential stock purchasers and marla tellez on the new facebook money. but scott mcgrew leads our coverage for us. pretty exciting day out there. >> it is an exciting day. let me if you're just waking up this morning, let me take you backwards in time 19 minutes and
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take a look at the nasdaq opening this morning. there you go, mark zuckerberg, "time" magazine's 2011 man of the year, the woman at his right hand cheryl samberg giving him a gigantic hug as that company yahoo once offered $1 billion for went public. scott budman was there on the ground in menlo park as all of this went down. good morning, scott. the excitement just palpable out there. >> reporter: yeah, good morning, scott. it really has been an amazing day, if you think about it. the nasdaq coming all the way cross country to be here at facebook. mark zuckerberg ringing the opening bell. kind of funny, we talked earlier this morning about how many facebook employees stayed the night last night for what they called a hackathon to make sure
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they were all here for the opening bell. we have seen in the last ten minutes or so, a very steady stream of cars leaving the facebook campus. you would think it's like 7:00 or 8:00 at night, but a lot of these people have now been here for an entire day/night cycle and they're going home very satisfied that although their wealth is still virtual and not cashed in, they are doing very much better financially than they were at this time yesterday. facebook as you mentioned pricing at $38, that is where the ipo happened last night, putting all those billions of dollars into the company bank account. that's where the individual investors, well, the sky's the limit. trading's expected to start around 8:00 this morning and we will see where that goes. these employees will not be able to trade in their shares for anywhere between three to six months before the lock-up period is undue. and all the shares hit the market. so facebook, a very risky investment at first for a lot of people, but undeniably something that a lot of people want to get
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their hands on. >> thank you very much. and again, 8:00 a.m. our time is what the nasdaq is saying. now, those -- the employees can't sell their stock, but they can take loans against that stock, laura, which is some of where the wealth's coming from this morning. >> yeah, exactly, a lot of people hoping to cash in on that, but not all happening inside the menlo park headquarters. what about the average guy that may want to be a potential investor watching from certainly the outside. bob redell live in menlo park this morning tapping into the public interest on this one. good morning. >> yeah, just talking about people like you and myself about would you do it if you could? what we're finding this morning, a sad fact that the economy -- a lot of people don't have money laying around to invest. but the question was if you had the money, if money wasn't necessarily a huge factor, would you invest in facebook? here's what some people had to say. >> yeah, why not. >> well, some people might say in the long-term it's not worth the investment. >> well, facebook's facebook, right?
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it's making its money regardless. between that kind of company investing in something like that, expecting something, some kind of return, right? >> you would do it if you had the money? >> you're that confident in it? >> oh, absolutely. >> why do you have so much confidence? >> because i see so many people on it and it's a way, you know, you can find your old friends, family, and i enjoy it. >> facebook ipo'ing this morning at $38 even though the market has opened, it has not started trading yet. we don't know what it's going to do from the $38 price point. we will get an idea in about five or six minutes around 7:00 when it's supposed to start trading on nasdaq. bob redell -- "today in the t euphoria, a facebook co-founder lashing out against washington. saying his decision to live in singapore is purely personal. but some say the u.s. senators,
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they say that move mean saverin will owe less taxes, and if he stayed a u.s. citizen if he sold his shares after the stock sale. he says i'm obligated and will pay hundreds of millions of taxes to the united states government. i have paid and will continue to pay taxes due on everything i earned while i was a u.s. citizen. now for the record, there is law on the books that keeps people from setting foot back in the u.s. ever again if they renounce their citizenship for tax purposes. lawyers, they point out it's never been enacted because it's pretty hard to prove. plus the irs is not supposed to reveal tax information. well, the ipo making about 1,000 employees of facebook a whole lot richer this morning. so the question is, the million dollar question, what are they going to do with all that money? marla tellez live outside facebook right now. and marla, yeah, turns out they've started spending some of
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those big bucks, huh? >> reporter: they have, you're precisely right, jon, good morning to you. at this point, though, that money is more like monopoly money. but the bay area economy is already beginning to benefit. we found it is very good to be a high-end retailer right about now. >> reporter: the sound of the bell has never been so sweet for facebook employees who in an instant are now millionaires. the company alone expected to rake in $15 billion and that makes silicon valley as green as ever. >> it's a market unlike anything else i've ever seen. >> even before today's ipo, home prices have spiked as much as nearly 20% with starter homes going for close to $2 million. and the buyers are young. >> some in their early 20s who are buying multimillion dollar. generally early 20s multimillion dollar condos. >> reporter: with that comes high demand for a luxury car.
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this lexus dealership is already reaping the rewards. >> we saw some business from facebook in the previous month. so i think some of those folks thought, well, i'm going to get the money, so i'll go ahead and get the car now. >> reporter: but who needs a car when you can fly? >> think of it like netflix dvds. you get a dvd, yo u watch it, send it back. >> surf air is getting ready to launch its all-you-can-fly airline property. in one of these slick swiss-made jets from palo alto to los angeles, for instance. the ceo is banking his company will take off thanks to in part mark zuckerberg's dorm-room creation. >> and what we've discovered is this is cheaper than a range rover sport payment and maybe a little bit sexier. >> reporter: those are pretty sexy, wouldn't you agree? well, in case you are interested in surf air, i can tell you it's in the process right now of getting approval from the faa,
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they plan to launch this summer. "today in the bay." >> not a bad deal if you can take the whole family. 6:56. what is the bottom line on facebook's value compared to other tech giants? based on this morning's ipo, the company is valued at $104 billion. it has $5 billion in revenue, trading at 20 times its revenue. in comparison, google back in 2004 $3.2 billion in revenue at the time and it traded at 7 times that revenue. >> and it's no secret, facebook celebrates its ipo, we take a look at couple of famous tech ipo flops. remember in 1999 opened at $84 a share, by 2001, two years later down to 9 cents. k.b. toys bought it but is back in business today. and raised $85 million with its ipo in february 2000, it collapsed nine months later. >> where is that puppet dog now when you need it? guess they don't need him.
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>> in the corner somewhere. let's check in one more time with scott mcgrew on final thoughts. >> i've got to admit, i'd forgotten about etoys. we expect the trades around 8:00 a.m. our time. we'll continue to cover that. these are live chopper pictures. a few people still at facebook. they get their pictures taken. they've lined up, you can see. they get their pictures taken up in front of the nasdaq desk there on your screen left. something to take home and something to show mom, as well. and i want to leave you with this thought. it's something i found on twitter, thought you might like it. it's from a san francisco artist ed, and he says why is facebook going public? because they couldn't figure out the privacy settings either. >> thanks so much, scott. well, an appropriate way to wrap up this morning. how about this? check out zuckerberg the musical. ♪ this is the dawning of the page that you share with us ♪
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♪ page that you share with us >> oh, yeah, harmonizing, ladies. three women on youtube taking the liberties with those famous show tunes. we've got the whole thing up on our website. check it out at nbc bay area. feel free, see the ladies. >> all right. our lady right now, christina loren giving us the forecast. >> you'll be singing about the weather this weekend if you have outdoor plans. we are not going to see all that much low cloud cover over the course of the weekend as offshore flow sets up today. the 70s by noon inland, 79 degrees at 4:00 p.m. don't forget, catch the giants taking on the a's tonight at 7:00 on nbc bay area. let's check your drive with mike. if you're traveling between highway 101 and the dumbarton bridge, use university avenue. the reason why is because you'll be sharing the road on willow past facebook, right into the intersection where they have all the activity for this morning's ipo. just a note. back to you.


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